Word: saudi
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...those of Europe and the U.S. Most oil-forecasting models show demand rising to between 120 million and 130 million bbl. per day by 2025 or 2030. The only way this demand can be met is for most of the additional supply to come from the Middle East, with Saudi Arabia providing the bulk...
...decades, almost all public-policy planners, aided by most oil experts, assumed that the Middle East had vast quantities of proven oil reserves that could be extracted at extremely low cost, thereby enabling oil demand to grow to almost any level. Anchoring that belief is a hope that Saudi Arabia's oil production can increase from around 9 million bbl. a day in 2005 to 25 million or even 30 million bbl. a day by sometime between...
After spending more than two years researching my book Twilight in the Desert, I am convinced that it is highly improbable that Middle Eastern oil--and particularly Saudi Arabian oil--can grow to those far higher levels. Instead there is a risk that Saudi Arabia's oil output and the rest of the Middle East's oil supply may start to decline...
...Saudi Arabia's specific production risk stems from the fact that almost 90% of its supply comes from only five key but aging giant oil fields. Each of those aging fields is exposed to a potential production decline. The implications of this risk are enormous, since 35 years of intense exploration in the kingdom has unearthed only one significant new oil field, Shaybah. Its peak production is less than 3% of Saudi Arabia's oil output...
...rally deaths will complicate the task of Arab moderates, such as Saudi Arabia, who are trying to reunite the two warring Palestinian factions. Hamas opposes Abbas's plans to attend a U.S.-sponsored Israeli-Arab summit in Annapolis, Maryland, later this month. Ahmed Qurie, chief Palestinian negotiator with the Israelis, compared Hamas's reign in Gaza to the Israeli occupation inside the Palestinian territories. "The policy of silencing the other side will not win," he said. Meanwhile, a Hamas spokesman, Sami Abu Zuhri blamed Fatah for provoking the latest Gaza shooting. With reporting by Jamil Hamad/Bethlehem